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How much will it cost to make basement renovations in my home?
Most of the houses in Toronto include a basement. This is an excellent space for storage and can help you easily avoid a lot of clutter. One common theme with basements during the building phase is that they are typically left unfinished. This allows great freedom for the homeowner to make renovations and upgrades to the space, essentially creating additional square footage in the home. Basement renovation costs can run the gamut from relatively small upgrades to full scale remodels.
Some of the most common basement renovations include:
- Laying carpet
- Enclosing the ceiling with drywall
- Installing appliances
- Adding water and electricity
- Building additional rooms
The less costly end of basement renovations might include hiding the rafters and plumbing with a drywall ceiling and some molding. This is a project you can do with a friend, but hiring a company like The Reno Pros is probably the best idea if you don’t have much experience with drywall. Depending on the size of the space and type of molding, this renovation might cost somewhere between $1000-$2000, which is a great upgrade without much financial commitment on your part.
Another option that is relatively inexpensive would be laying carpet or flooring such as wood or tile. These renovations will typically run $2500-$4500 depending on the square footage and choice of material. The lower-end of the above mentioned basement renovation costs are based on 1000 sq. ft. and a mid-level quality carpet. Tile can be cheaper than carpet, but the labour tends to cost a little more. Materials and labour for installing a wood floor would be the most expensive of these options. One caveat, even though wood floors look fantastic, they simply do not hold that great in basements. Simply upgrading your appliances in the basement is also a relatively cheap option with a refrigerator and wash/dryer combination costing somewhere in the neighborhood of $3000-$3500.
More expensive basement renovations can be made to build walls and bathrooms. The standard cost for “roughing in” a basement bathroom would be in the neighborhood of $3000 for installing plumbing and electricity, depending on how accessible the working area is for your contractor. There would be additional expenses for drywall, tile, a toilet, vanity and tub that might set you back another $1500, but adding a bathroom to your home for $5000 is quite a good deal considering the value that renovation will add in the Toronto real estate market.
Building additional walls to separate the space can be excellent for basement renovations and if you are doing so in order to rent the space for income, the remodel can pay for itself quickly. The Reno Pros specialize in adding rooms to basements in the Greater Toronto Area and can easily get you a quote to turn your dark and dusty basement into a vibrant living space for children, guests or even a renter.
Typical reasons people will renovate their basements:
- Growing family
- Rental income
- Adding value
- Expanding the living space
There are a multitude of reasons to complete basement renovations on your home; many of them will inevitably add value. Toronto is a bustling city where space is at a premium, so if your family is growing or it is difficult to make ends meet, it may be time to consider renovating the valuable space under your feet.
Hear What Our Customer Are Saying About Us
"After requesting a quote for finishing a basement and working within the constraints of my budget, I went with RenoPros. The team arrived on time and ran every idea by me, as well as recommended what materials are best to be used in what area. The job was complete in a professional manner and I am very happy I chose The RenoPros"
"I was hesitant at first to rely on a third-party service to re-do two bedrooms in my house but the guys at RenoPros assured me they would work closely with me to fit my needs. I chose two different designs, and now both bedrooms actually feel good to be in. Great job"
"Our husband and I needed to renovate our basement at an affordable price. We found RenoPros and their staff and crafting was spot on, they let us customize everything to our liking and were very friendly and accommodating. Would do business with again, thanks!"
"We are so happy with our new kitchen and main floor renovation. The upgraded wife flooring was an excellent suggestion and the apron sink make the house feel brand new. The project manager was helpful, organized and I would definitely call them for any future renovation needs."